BTG Pactual and Celfin Capital announce merger

BTG Pactual and Celfin Capital announce their merger, concluding negotiations initiated in August 2011. The deal creates Latin America’s leading investment bank, and expands BTG Pactual’s platform to Chile, Peru and Colombia, markets where Celfin already has a leading position. With the merger, BTG Pactual will have assets US$69bn in its Asset Management unit and US$28bn in its Wealth Management division.

“We want to be a reference for corporations, institutional investors and high net worth individuals with interest or business in Latin America”, says André Esteves, CEO of BTG Pactual. “The flow of investments between the region’s various countries is increasing strongly. Capital markets are developing at a fast pace in Colombia and Peru. Even more mature markets, such as Brazil and Chile, have high growth rates. We are very optimistic with the perspectives for Latin America”, he concludes.

For Juan Andrés Camus and Jorge Errázuriz, Celfin partners and new Chilean partners of BTG Pactual, the merger represents a natural step in the company’s expansion process. “Our clients will now have access to investors and investments in Asia, Europe and the US”, says Jorge Errázuriz. “With this merger, we will be able to offer our clients access to capital and financing opportunities, and to more sophisticated transactions. At the same time we will also preserve our deep knowledge of the local markets and the close relationships we have with our clients.” rounds off Juan Andrés Camus.

Following the merger, current Celfin Capital partners will hold an equity interest in BTG Pactual, and the current partners and executives of Celfin will continue to manage the company’s operations in Chile, Peru and Colombia.

The merger is subject to all necessary regulatory approvals.

About BTG Pactual
• Leading investment bank in M&A deals in Brazil (Thomson Reuters, 2010/2011);
• Voted the Best Investment Bank in Brazil by Latin Finance and Global Finance. Voted the Best Equity House of the Year by the Euromoney and Latin Finance magazines in 2010;
• One of the main global asset managers based in emerging markets, with over R$120bn in funds under management and/or administration;
• Voted the Best Fund Manager in Brazil in 2011 by Exame magazine and by Fundação Getúlio Vargas (FGV);
• One of the leading Wealth Management providers in Brazil, with R$40bn in assets under management;
• Presence in Brazil (São Paulo, Rio de Janeiro, Recife, Belo Horizonte and Porto Alegre), the US (New York), the United Kingdom (London) and China (Hong Kong);
• Over 28 years’ experience in Brazilian and international markets;
• Approximately 1,300 employees.

About Celfin Capital
• Voted Best Financial Institution in Chile by World Finance in 2011.
• Voted Best Financial Institution in Chile by Deloitte Diario Financiero in 2010 and in 2011.
• Voted the Financial Institution with Best Corporate Reputation in 2011 by El Mercurio.
• Leader in Asset Management in Chile, with over US$4.5bn in assets under management;
• Distributed over US$5.9bn to institutional investors in the form of pension funds, exclusive funds and private equity funds;
• Voted Best Institution for Wealth Management Clients in Chile by Euromoney Magazine in 2010;
• One of the leading Wealth Management players in Chile, with over US$5bn in assets under management;
• Voted Best Brokerage in Chile by Bolsa e Comercio in 2010;
• Presence in Chile (Santiago), Peru (Lima) and Colombia (Medellín);
• Over 23 years’ experience in the Andean markets;
• Around 600 employees.